ConAgra finally gets Ralcorp
More big news this month when ConAgra Foods was finally able to announce it had reached a ‘definitive agreement’ to buy Ralcorp Holdings.
The transaction is valued at approximately $6.8 billion, including the assumption of debt, with Ralcorp shareholders to receive $90 per share in cash for each outstanding share of common stock held.
The acquisition brings to a close ConAgra’s long-term pursuit of the private label giant. ConAgra, which made multiple abortive attempts to buy Ralcorp last year, had be pursuing a “pipeline of alternatives”, including snapping up Kangaroo Brands’ private label pita chips business in May 2012, following the purchase of breakfast sandwiches and sausages maker Odom's Tennessee Pride in April 2012, packaged fruit, veg and snacks maker Del Monte Canada in January 2012 and private label snack maker National Pretzel Company in November 2011.